The gap between scaleup funding available in Australia compared to funding available to comparable firms in the US could reach $53 billion by 2030 without more government and international investment dollars, new research from the Tech Council of Australia has found.
But in more positive news, the survivability of early-stage companies founded in the last 10 years is now on par with the United States, United Kingdom, Canada, Israel and Singapore, with a 78 per cent increase in startups founded during the period.
The report, released during the industry group’s National Tech Summit on Thursday, found that Australia is comparable to the US in the startup phase between founding and a Series A round, but that this “diverges significantly” after Series B.
Want to know how this story ends?
Become a subscriber for complete access to all stories on InnovationAus.com and our daily newsletter.
Do you know more? Contact James Riley via Email.